JinkoSolar Unstoppable Growth at a Sustainable Level
SHANGHAI, March 5, 2020 /PRNewswire/ -- Different from its competitors involved in the business of selling wafers to the free market or building and selling solar plants, JinkoSolar is a pure player of module manufacturing, only focused on the module making value chain. Therefore, it has a significant business lead.
JinkoSolar's experience in catching up on wafer production in 2019 is helping the company to extend its lead over other module makers in terms of both revenue and profitability. The reduced dependence on wafer outsourcing and OEM has optimized its vertical integration and strengthened the balance sheet as well as accelerated new product launches. JinkoSolar is the only solar module producer to remain top for the fourth consecutive year and has delivered 55GW of panels to date, no one else in the industry has done this before.
JinkoSolar has really revolutionized that part of technology and engineering, making them more advanced and competitive.
Meanwhile, JinkoSolar's wafer factory in Leshan, located in Sichuan Province, provides the size and scale to further drive down costs. During JinkoSolar's Investor Conference with analysts, its CFO Charlie Cao talked about the push to increase output of the Leshan factory. "We have to really make sure that we get a very steep ramp in wafer production and continue to improve the cost," he said. The forecast shows the cost structure moving steadily optimized over the next quarters. That should help JinkoSolar to become more competitive, and its head start is formidable, because at the core there is technology within the organization, and that is what it has been working on for well over a decade, bringing some substantial advantages to justify its solid track record.